December 14, 2020
Privately-held real estate investment company FCP has provided $8.4 million in preferred equity financing to Arris Holdings for the development of Arris Destin, a 192-unit apartment community in Destin.
The investment marks FCP’s 13th in Florida and its first in the Florida panhandle. The firm’s previous investments have been in Orlando, Tampa, Jacksonville and Southeast Florida. Arris is a leader in modular construction, utilizing state-of-the-art technologies that provide faster, safer and more durable assembly for apartment buildings with less disruption to the environment.
“FCP is excited to work with Arris on this exciting investment utilizing modular construction, which has the potential to make a real impact to more efficiently and quickly deliver high quality apartments and minimize waste,” said William Herbert, vice president at FCP. “This is the second time we’ve worked with the Arris team on a multifamily development and we look forward to continued opportunities with them.”
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